During the COVID-19 pandemic, most of the elective and non-urgent surgeries were postponed and the healthcare infrastructure was reserved for the treatment of COVID-19 patients. As a result, all the surgical departments across the globe faced a severe downward trend in the number of surgeries performed during the pandemic.

According to the research article published in the International Journal of Surgery, 2020, all surgical specialties have had to limit their surgical practices and rationalize the surgeries which are performed. The selection of patients for urgent surgery during the pandemic is vitally important to ensure patients have postoperative reserves to combat any possibility of being infected with COVID-19. Thus, the reduction in the surgical procedures during the COVID-19 pandemic is expected to negatively impact the market growth during the COVID pandemic.

The major factors contributing to the growth of the studied market include the increasing number of surgical procedures, primarily due to injuries during sports activities, accidents, and cardiac surgeries. The growing burden of cardiovascular diseases and other chronic conditions where the surgery is being suggested as mandatory and the increasing elderly population is expected to drive the studied market growth.

According to Globocan 2020, the incidence of cancer cases is estimated as 19.292,789 cases in 2020 globally. Similarly, according to British Heart Foundation, Heart and Circulatory Disease Statistics 2020, a total of 167,116 cases of heart and circulatory diseases were diagnosed in 2018 in the United Kingdom. Thus, the high incidence of chronic diseases increases the demand for surgical procedures, which in turn is expected to significantly aid in the growth of the surgical clips market over the forecast period.

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Key Market Trends

Ligating Clips Segment is Expected to Dominate the Surgical Clips Market Over the Forecast Period.

The demand for ligating clips is increasing in the market and it is estimated to increase during the forecast period. The growth of the Ligating clips market is majorly attributed to the increasing number of surgeries, along with the growing burden of the geriatric population. These clips are used in the surgeries for vessel closures and insecure fixation on the tubular structures.

As per the United Nations' World Population Prospects: the 2019 Revision, one in six people in the world will be over age 65 in 2050, which is up from one in 11 in 2019. Thus, the growing elderly population is more prone to chronic diseases which in turn increases the surgeries being performed. Also, according to Eurostat, 2018, approximately 1.4 million cesarean sections were performed in European Union in 2018.

Transluminal coronary angioplasties were most common in Croatia and Germany, accounting for an average of 411 and 409 procedures per 100,000 inhabitants respectively. Additionally, according to The Lancet Commission for Global Surgery (LCoGS), a minimum of 5000 surgeries per 100,000 population are to be performed to meet the surgical burden of diseases in low- and middle-income countries (LMICs) by 2030. Thus, the growing incidence of surgeries being performed worldwide along with the growing elderly population is expected to drive the growth of the studied segment over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall market, throughout the forecast period. The market is witnessing growth, due to factors, such as the presence of key players, high incidence of chronic diseases, accidents, and trauma in the region, and established healthcare infrastructure. In the North America region, the United States has the maximum share, due to supportive healthcare policies, a high number of target patients, and an increasing inclination towards sophisticated healthcare facilities.

For instance, according to OECD, the number of cesarean sections performed in the United States accounted for 1,208,176 procedures in 2018. The high number of surgeries being performed in the region is the major factor driving the studied market growth. Thus, because of the increasing surgical procedures and new product approvals, the surgical clips market is expected to propel over the forecast period in North America.

Competitive Landscape

The surgical clips market is moderately competitive and consists of few major players. Some of the companies currently dominating the market are Ackermann Medical GmbH & Co, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Johnson & Johnson, Lemaitre Vascular Inc., Medtronic PLC, Scanlan International, and Teleflex Incorporated among others. The key players are evolving through various strategies such as new product launches and acquiistions to secure the position in the gloabl competitive market.

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